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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
The dispute revolved around exemption claims without submitting Form 70. It was held that the form ensures proper disclosure and verification. The decision reinforces mandatory compliance for tax relief.
The FAQs clarify that filing Form 69 within the due date is a mandatory condition to claim concessional taxation under Section 210(2). Failure to file or incorrect submission can lead to denial of tax benefits. The key takeaway is strict compliance is essential for eligibility.
Form 68 is required for claiming exemption on income of specified funds under the new tax law. Filing within due date is mandatory to avail exemption benefits.
The issue concerned whether uncertified or missing Form 67 could validate AMT claims. It was held that CA certification and filing are essential conditions. The ruling highlights the importance of authenticated reporting.
Explains mandatory filing of Form 66 for companies liable to MAT and the requirement of CA certification. Highlights consequences of non-filing and defective returns.
The guidance clarifies that concessional tax is available only with a mandatory lock-in period. Taxpayers must comply with strict conditions to retain benefits.
The dispute involved deduction claims without proper authorization. The ruling confirmed that Form 61 is essential for validating such claims. Taxpayers must adhere to filing timelines.
Form 60 is used by international groups with multiple entities in India to designate a single entity to file the Country-by-Country Report.
Form 59 is used by parent or alternate reporting entities to furnish the Country-by-Country Report of international groups.
Form 58 informs the Income Tax Department about the parent or alternate reporting entity responsible for filing the Country-by-Country Report.
